House of Fraser bought by Mike Ashley

Leicester used to have a HOF when the Highcross opened. It was like a ghost town in there. Then it changed to a HOF “Outlet”. I don’t know when the stock had ever been on sale, but it wasn’t recent. That’s gone too, but I can’t say I’ll miss it. I have enjoyed looking round the Birmingham store though.

I think quite a few of the least profitable stores will still go . As was the plan to try and save the company before he took over .

Putting a fox in charge of the hen house!

Alima perhaps he will be radical and modernise?
HOF stores used to be very good, but have been going steadily downhill ( perhaps he should take M&S in hand as well.)

It is one of those conundrums, if he doesn't take on the pension fund, he saves some, maybe many jobs. If the pension has to go with the sale, there is no sale, everyone looses their jobs and the pensioners are no better off.

Very different situation to BHS, where there was malice aforethought. The pension scheme was deliberately starved of funds and there was an attempt at sleight of hand by Sir P, to keep his slate clean.

Not but I have deep sympathy for all those caught up in these company collapses.

I have read that MA put in his offer for HoF only after it had gone into administration. Apparently that means he does not have to honour the HoF pension scheme. Those poor people. (Have never shopped in HoF, always seemed a bit old fashioned to me),

Last week I went into a HofF store in Bath, Jolly's, The first one I have been to in decades as there is none anywhere near me. It was a very smart upmarket store, with a lot of beautiful clothes, upmarket brands and looked the business. No concessions that I could see. If the weather hadn't been so hot, and if they had had more autumn/winter ranges, I could have been tempted, but as it was, I was hot and sticky, and my feet were aching after several hours of wandering round, so I bought nothing,

But if Jolly's is an example of what Mike Ashley, or rather his daughter's fiance Mike Murray(?), who is going to be running them has in mind then they could have a future.

As I've only ever bought something in H of F once I can't say that I'll miss it and who knows I might actually use it more often. Only time will tell. Hopefully he can salvage a good few jobs.

Harrods was acquired by House of Fraser in 1959, which in turn was purchased by the Fayed brothers in 1985.[12] In 1994 Harrods was moved out of the House of Fraser Group to remain a private company prior to the group's relisting on the London Stock Exchange.

John Lewis does well because it is value for money but makes people feel as though they are having a quality experience. And, they have their 'bricks and clicks' well integrated. But they will be the only store offering that experience soon.

I love jl but I loved our local Fenwick as an alternative.

I just can't see him keeping on all the concessions such as Quiz/Dash/Country Casuals/etc and they will all be religated to internet shopping only.
What is going to happen to the employees pension scheme I missed what was said on the news this morning ?

Terribull that doesn't bode well....

Like another poster upthread, I used to view Kendals , a House of Fraser branch, in Manchester as rather like Harrods ,but up north.
It was a lovely store and very upmarket.
The last time I went in a few years ago I was shocked how downmarket it had become.
I hope , but don't really expect, for better times.

One of my sons, during A levels and after university before be managed to get into meaningful employment, worked for a now defunct clothing shop owned by Mike Ashley. It was an appalling set up, on one occasions they ran out of till roll and head office told staff they'd have to fork out for it themselves. Loads of unpaid overtime, they were expected to unpack stock and put it on the shop floor very late at night sometimes into the early hours of the morning.

For the moment, I'm relieved that someone has picked up this particular tab. It remains to be seen what his intentions are longer term.

I think I also heard that he won't be honouring gift vouchers, but I didn't quite catch the whole conversation on the radio, so may have misunderstood.

Some of the staff have probably worked for the company for years

I noticed he's not buying the pension responsibilities. Feel sorry for all new and old employees who have relied on this for their future security. Will the financial authorities pick this up?

Sadly, I think you're right Gilly and Trisher, I'm just an optimist clutching at straws! Himself is a die-hard fan, too, though not a season ticket holder (we're down south, he's a Geordie and I'm not!) and it upsets me to see how loyal they all are and are just taken for mugs. I can imagine the banter today and really wish we were up there to hear it!

It wouldn’t trisher my dad is a die hard NUFC season ticket holder . He says the money these clubs make on the gate ( ticket sales) is a drop in the ocean compared with massive amounts raised in sponsorship, TV rights, Sky payments, kit and strip sales etc.

Don't think it would impact that much Squiffy the club made profits from transfers. Suppose it's a bit like asset stripping but using footballers!

I’ll check down the back of the sofa Gilly!

I think the fans should boycott season ticket renewals, that might focus his mind?? . . .

True trisher, but there is no solution, if the chain hadn’t been bought it would have closed down.

Too right there will Squiffy. The man is not in the slightest bit interested in football and rarely even bothers to attend a match. It’s just another part of his investment portfolio . Anyone got a spare £400 million?

It's not just a question of low pay alone Annie I wouldn't trust a word Ashley says about his intentions. With as PECS says Sports Direct on the top floor of Debenhams, it is possible that we will see shops combined and staff made redundant. Interesting as well that apparently he wanted to buy BHS.